Radico color me organic already operates in several markets around the world and has a loyal customer base. However, as the company is growing, it seeksto expand into more countries and grow its market share. Accordingly, the company seeks your help with the following:
Section I: Industry/Market Analysis
1. Industry and Competition Analysis
To provide a foundation for your analysis, start with a survey of the industry. Who are your client’s main competitors? What are your client’s strengths and weaknesses compared to the competition, and what are the threats and opportunities for your client. Perform a SWOT analysis.
2. New Market Selection and Analysis
Based on your analysis of the client and competition, identify the most promising new market for your client. Where would the product be in most demand (where do the people who want and can afford the product live)?
First consider the market characteristics that are essential to the success of the product in the market, such as the geography, shipping cost, cultural, economic, and political factors, trade regulations, certification requirements, etc.
Based on a compares on of the countries that fit your criteria, select one most promising markets that you believe has the greatest potential. Please note, the market is usually a country, but it can be a region or a country, or a multi-country region.
Conduct an analysis of the market in terms of Key competitors in the proposed market, their strengths, and weaknesses, their pricing and promotion
strategies, etc.
Provide an in-depth analysis of the market in terms of factors relevant to the success of your client in the market; provide all the information about the proposed market that your client needs to know to successfully
operate there, including: Cultural, legal, political, and economic factors that your client must understand to ensure success in that market; Consumer tastes and preferences with respect to your client’s product
Radico already operates in 100 plus countries so the new market would need to be a CIS country Russia or a western African country.
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